Payments and e-commerce in the Dominican Republic

Discover how consumers in the Dominican Republic like to shop and pay online

The e-commerce market in the Dominican Republic is projected to grow at a rate of 15% a year between 2022 and 2025 [1]. Seventy-seven percent of the adult population is connected to the Internet and over 80% of Dominicanos have an Internet-enabled smartphone. These high levels of financial and digital inclusion make market entry easier than it would otherwise be for overseas e-commerce merchants. But a mobile-first strategy is a must.

Just under 60% of the Dominican Republic’s adult population has a bank account. The country has a thriving fintech scene, which includes a number of payments companies [2]. To thrive in a country with such a relatively low rate of financial inclusion, e-commerce merchants must build payment localisation, including the support of cash-based payments, into their market strategy.

  1. https://www.statista.com/outlook/dmo/ecommerce/dominican-republic
  2. https://fintechnews.am/dominican-republic/47633/dominican-republic-sees-the-rise-of-a-thriving-fintech-sector

Dominican Republic

General Information

  • Population 10.6 m
  • Population 15 + 7.7 m
  • Online Population 8.1 m
  • Area 48,442 km2
  • Currency DOP
  • GDP 89.5 bn $US
  • GDP per Capita 8,420 $US
Banked population
  • Dominican Republic 58%
  • South & Central America 58%
  • World 67%
Credit card penetration
  • Dominican Republic 17%
  • South & Central America 20%
  • World 19%
Internet penetration
  • Dominican Republic 77%
  • South & Central America 73%
  • World 62%
Smartphone penetration
  • Dominican Republic 81%
  • South & Central America 64%
  • World 70%

The information on our Insights pages has been compiled by us in cooperation with Datamatics and Wright & Brown. The data shown is partially owned by us and partially owned by GlobalData. © 2021 by PPRO Financial Ltd. No data and information can be used for any further publication without the explicit approval of PPRO.

Dominican Republic

Local Payment Methods

BitPay Type Cryptocurrency Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Hyperwallet Type Bank transfer, Gift card, Prepaid voucher Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High PayPal Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Paysera Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Skrill Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Allied Wallet Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High UnionPay SecurePay Type Local payment card Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Boku Type Carrier billing Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Google Pay Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Mobiamo Type Carrier billing Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Razer Gold Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High SWIFT Type Bank transfer Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Secure Remote Commerce (SRC) Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance Medium Banco LAFISE Type Bank transfer Regions South & Central America Boloro Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 G2A Pay Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance Medium NETELLER Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Splitit Type Instalments Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3

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